BidaskClub upgraded shares of Goodyear Tire & Rubber (NASDAQ:GT) from a strong sell rating to a sell rating in a report released on Thursday morning, BidAskClub reports.
Other equities research analysts also recently issued reports about the stock. Longbow Research raised shares of Goodyear Tire & Rubber from an underperform rating to a neutral rating and set a $14.74 price target for the company in a report on Thursday, June 6th. BNP Paribas initiated coverage on Goodyear Tire & Rubber in a report on Friday, August 16th. They set an outperform rating and a $10.00 target price on the stock. ValuEngine raised Goodyear Tire & Rubber from a sell rating to a hold rating in a report on Tuesday. KeyCorp initiated coverage on Goodyear Tire & Rubber in a report on Wednesday, May 22nd. They set a sector weight rating and a $14.93 target price on the stock. Finally, Exane BNP Paribas initiated coverage on Goodyear Tire & Rubber in a report on Friday, August 16th. They set an outperform rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $17.52.
Shares of NASDAQ GT traded down $0.05 during midday trading on Thursday, reaching $14.00. 4,836,775 shares of the stock were exchanged, compared to its average volume of 4,274,308. The company has a market capitalization of $3.23 billion, a P/E ratio of 6.03 and a beta of 1.76. Goodyear Tire & Rubber has a 52-week low of $10.74 and a 52-week high of $24.85. The company has a current ratio of 1.33, a quick ratio of 0.73 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average price of $12.31 and a 200-day moving average price of $15.79.
Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.06). The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Goodyear Tire & Rubber had a return on equity of 7.66% and a net margin of 3.02%. Goodyear Tire & Rubber’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.62 earnings per share. On average, analysts forecast that Goodyear Tire & Rubber will post 1.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 4.57%. Goodyear Tire & Rubber’s dividend payout ratio is presently 27.59%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. HM Payson & Co. acquired a new stake in Goodyear Tire & Rubber in the second quarter worth about $58,000. Advisory Services Network LLC raised its holdings in Goodyear Tire & Rubber by 46.3% in the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock worth $94,000 after purchasing an additional 1,645 shares during the period. Employers Holdings Inc. bought a new position in Goodyear Tire & Rubber in the 2nd quarter worth $106,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Goodyear Tire & Rubber by 37.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,097 shares of the company’s stock worth $138,000 after purchasing an additional 2,492 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Goodyear Tire & Rubber by 17.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock worth $155,000 after purchasing an additional 1,507 shares during the period. Institutional investors own 81.76% of the company’s stock.
About Goodyear Tire & Rubber
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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